When submitting the return for the year 2020, you have to take into account some boxes that the balance can tip towards your side and give a result to be returned to the Treasury.
This 2021, presenting the 2020 Income Campaign is complicated. With the economic situation experienced last year, many taxpayers will have to take into account new boxes and parameters to present the relevant return and, in addition to avoiding future penalties, get the return to be returned.
The drafts are already available to everyone, but to ensure the results the Tax Agency makes the Renta Web Open service available to taxpayers, a online simulator in which you can check if the rent is going to be paid or returned.
In addition, to know the verdict of the Treasury, you must consult the box 670 to know what the fee is statement differential, that is, the amount resulting from subtracting the deductions from personal income tax, which allows to know the result of the income statement. There you will find a figure, preceded by a negative sign (-), which means that you are entitled to a refund of part of the taxes you have paid; otherwise, you have to pay the Treasury the difference between the personal income tax paid and the one that corresponds to you.
The start of the Income 2021 campaign is just around the corner. These are the key dates and procedures that can be done online and by phone.
Of course, the result depends on the many factors that surround each taxpayer, no case is usually the same as another, so it is important take into account all the deductions and reductions that you can apply to your situation and which boxes correspond. Not applying them can be very expensive. It is also important to know the regional regulations, the deductions and extra reductions applicable in your CCAA.
Home purchase and rental: boxes 698 and 700 or 562 and 563
Yes you are rented and you are under 35 years old, you can join the deduction for rent of habitual residence, as long as the lease is signed before January 1, 2015 and the tax base is less than 24,107.20 euros per year. If these two requirements are met in boxes 562 and 563, you can deduct 10.05 percent of the amounts satisfied.
On the contrary, the Deduction for investment in residence is still valid. It applies to those who bought their house or began to pay for its construction before 2013. In boxes 698 and 700 this concept can be confirmed if they are not already marked from previous years in the draft. You can deduct up to 15% of the amounts invested, the limit being 9,040 euros.
The My DGT app offers you various advantages. The main one is that you have the possibility of carrying your driving license with the same validity as your physical license on your mobile.
Self-employed: box 220
For the self-employed or self-employed, as every year, it is important to take into account deductible expenses such as office supplies, the rent of the same, transport costs or diets, the list is long.
On the other hand, this year some things have changed. Those who during the past year took advantage of any of the aid provided by the Government to alleviate the effects of the pandemic and the loss of temporary employment or reduction thereof, must be reflected in their declaration. Of course, there is an exception for the taxation of this aid, and that is that the first 2,000 euros are exempt.
In addition, taxpayers who declare economic activities in direct estimation (box 220) must transfer the amounts entered in their registry books to the return, but only if they are homologated by the Tax Agency.
Maternity and family: boxes 611 to 613 and more
Having children, dependents or being a large family, are some of the situations that allow you to get various reductions and deductions. In this case, the paperwork can be too cumbersome so, if possible, it is advisable to ask for help from a specialized advisor. Mainly, because this year there are changes, for example: to the 1,200 euros that we can deduct for each child under three years of age that we are in charge, another 1,000 euros are added when the taxpayer has expenses for daycare or nursery schools.
However, taking into account the current pandemic situation, mothers affected by an ERTE or cessation of activity are left without this deduction during the time that they have not been self-employed or employed.
The boxes to pay the most attention to for families and maternity issues are 611 to 613, as well as 660 and 661, 624 and 624, 636 and 637, 248 and 249.